This placement season does not seem to be going well for major institutes of the country in terms of startups that are hiring.

The Indian Institutes of Technology have seen a decrease of about 50 per cent in the number of startups that have showed their willingness for the campus recruitment drive at these institutions. Big names in the startup industry such as Flipkart, Paytm, OlaCabs and Snapdeal are completely missing from this season of placements at IITs.

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The response has also been dampened because of IITs barring more than 30 firms from participating in their placement drives for not keeping the promises made to students at the time of hiring.

Most of the startups that were barred had either made last minute changes to the offers or had delayed the joining dates by months.

The IITs are also screening startups before allowing them to visit the campuses. The screening process includes checking the startups for funding, cash flow, year of founding, etc.

Also, investors that are already stake-holders in some of the big names in startups have refused to provide anymore funds because the startups are not turning profitable, AskMe & PapperTap being the big names that faced this kind of situation and had to shut shop.

While this might not affect the overall season of placements in the institutes, it strengthens the fact that startups are facing rough weather in India. While, globally, more than 90 per cent of the startups fail, in India, the number seems to be even higher.